TONY MAKUCH President & Chief Executive Officer TIER ONE GOLD - PowerPoint PPT Presentation

KLGOLD.COM TSX: KL January 2017 TONY MAKUCH President & Chief Executive Officer TIER ONE GOLD PRODUCTION | DISTRICT SCALE UPSIDE | VALUATION UPSIDE 1

KLGOLD.COM CAUTIONARY LANGUAGE TSX:KL Cautionary Note Regarding Forward-Looking Information This presentation contains statements which constitute “forward -looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of Kirkland Lake Gold Ltd. (“Kirkland Lake Gold”) with respect to future business activities and operating and financial performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and include information regarding: (i) expectations for the ability of the combined company to successfully achieve business objectives, including integrating the companies or the effects of unexpected costs, liabilities or delays, (iii) the potential benefits and synergies of the combined company, (iv) future production, cash costs, free cash flows, and operations, and (v) expectations for other economic, business, and/or competitive factors. Investors are cautioned that forward-looking information is not based on historical facts but instead reflect management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Kirkland Lake Gold believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the combined company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the ability of Kirkland Lake Gold to successfully integrate their respective operations and employees and realize synergies and cost savings at the times, and to the extent, anticipated; the potential impact on exploration activities; the potential impact of the announcement or consummation of the transaction on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; the re-rating potential of the combined company; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; and the diversion of management time on the integration of the two companies. This forward-looking information may be affected by risks and uncertainties in the business of Kirkland Lake Gold market conditions. This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by Kirkland Lake Gold Inc. (“KLG”) and Newmarket Gold Inc. (“Newmarket”), with the Canadian securities regulators, including KLG’s and Newmarket’s respective annual information forms, financial statements and related MD&A for the financial year ended December 31, 2015 and their interim financial reports and related MD&A for the period ended September 30, 2016 filed with the securities regulatory authorities in certain provinces of Canada and available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Kirkland Lake Gold and Newmarket have attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Kirkland Lake Gold does not intend, and do not assume any obligation, to update this forward-looking information except as otherwise required by applicable law. Use of Non-GAAP Measures This Presentation refers to average realized price, operating costs, all-in sustaining costs per ounce of gold sold, free cash flow and cash costs of production because certain readers may use this information to assess the Company’s performance and also to determine the Company’s ability to generate cash flow. This data is furnished to provide additional information and are non-GAAP measures and do not have any standardized meaning prescribed by International Financial Reporting Standards (“IFRS”) . These measures should not be considered in isolation as a substitute for measures of performance prepared in accordance with IFRS and are not necessarily indicative of operating costs presented under IFRS. Refer to each Company’s most recent MD&A for a reconciliation of these measures.

KLGOLD.COM WHY INVEST IN KIRKLAND LAKE GOLD TSX:KL Currently Kirkland’s Enterprise Value (‘EV’) to /2017E production Valuation Upside US$1,961 vs. peer avg of US$3,950 1 Price to 2017E cash flow 2.5x peer avg 7.3x 1 2017E 1 gold production of 500,000-525,000 ozs from five producing underground gold mines in Canada and Australia. Solid Gold Production Cornerstone assets 2017E production of 390,000oz 3 from Macassa, Fosterville & Taylor mines 1 Strong Balance Sheet, Low Cash Position US$234 million (net cash US$146 million). Cost production Operating costs <US$625-$675/oz & AISC <US$950-US1,000/oz Significant discovery and expansion potential within established District Scale Exploration gold camps in Canada and Australia with >20 drill rigs in operation US$45 - $55 million , 2017 growth exploration budget Strong Value Creation Opportunity 1. . Source: Company filings, FactSet and available equity research at Jan 3, 2017. Production and Cash Flow are broker consensus. Averages exclude Kirkland Lake. 2.Cash position as at December 31, 2016, Re fer to Slide 2 “Forward Looking Information”. 3. Consolidated high end of 2017 3 production guidance for Macassa, Fosterville and Taylor. Operating Cash Costs per ounce and AISC per ounce reflect an average USD to CAD exchange rate of 1.28 and a USD to AUD exchange rate of 1.28.

KLGOLD.COM SIGNIFICANT VALUE PROPOSTION TSX:KL Market Capitalization (C$Bn) 1 EV / 2017E Production (US$/oz) 1 Price / 2017E Cash Flow 1 Detour $3.4 Detour Alamos $4,827 10.5x New Gold $2.7 Guyana $4,605 Detour 9.5x OceanaGold $2.5 Alamos $4,598 Guyana 8.4x Alamos $2.5 New Gold $4,405 Richmont 8.3x Northern Star $2.2 Torex $4,369 Torex 7.1x Torex $1.7 Klondex $4,010 Regis 6.8x Kirkland Lake $1.5 Richmont $3,883 New Gold 6.2x Regis $1.4 OceanaGold Klondex $3,324 6.1x Guyana $1.3 Regis $3,174 Northern Star 5.1x Klondex $1.2 Northern Star $2,291 OceanaGold 4.9x Richmont $0.6 Kirkland Lake $1,961 Kirkland Lake 2.5x Peer Avg. C$1.9B Peer Avg. US$3,950/oz Peer Avg. 7.3x 1 Source: Company filings, FactSet and available equity research at Jan 3, 2017. Production and Cash Flow are broker consensus. Averages exclude Kirkland Lake 4

KLGOLD.COM TIER ONE CANADIAN OPERATIONS 2017E TSX:KL CANADA Holt Gold Mine Taylor Gold Mine Macassa Gold Mine Macassa Gold Mine MacassaMill 2,000 tpd +40km 2 Land District Scale Opportunity 2017E Production Guidance Macassa Mine (oz) 180,000 – 185,000 Holt | Taylor Gold Mines Holt Mill 3,000 tpd District Scale Opportunity (Porcupine Destor Fault Zone)(PDFZ) 120km Strike along PDFZ 2017E Production Guidance Holt Mine (oz) 65,000 – 70,000 2017E Production Guidance Taylor Mine (oz) 55,000 – 60,000 Consolidated Cost Guidance Consolidatedoperating cash costs US$625 – US$675 per oz 1 Consolidated All-in Sustaining Costs US$950-US$1,000 per oz 1 5 1. Refer to slide 2 forward looking and Non IFRS Disclosure, operating Costs per ounce and AISC per ounce reflect an average USD to CAD exchange rate of 1.28 and a USD to AUD exchange rate of 1.28.

KLGOLD.COM TIER ONE AUSTRALIAN OPERATIONS 2017E TSX:KL Cosmo Gold Mine/ Union Reefs AUSTRALIA Fosterville Gold Mine Fosterville Gold Mine Fosterville Mill 2,400 tpd +500km 2 Land District Scale Opportunity 2017E Production Fosterville Mine (oz) 140,000 – 145,000 Cosmo Gold Mine Union Reefs Mill 5,000 tpd 2017E Production Cosmo Mine 60,000 – 65,000 Consolidated Costs Consolidatedoperating cash costs US$625 – US$675 per oz 1 Consolidated All-in Sustaining Costs US$950-US$1,000 per oz 1 6 1. Refer to slide 2 forward looking and Non IFRS Disclosure, ooerating Cash Costs per ounce and AISC per ounce reflect an average USD to CAD exchange rate of 1.28 and a USD to AUD exchange rate of 1.28.